Commodity Watch: Copper futures in focus

Copper prices on Friday rose 1.77 per cent to Rs875.10 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in May traded higher Rs15.25 or 1.77 per cent at Rs875.10 per kg in a business turnover of 7,259 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Offloading in aluminium futures continues

Aluminium futures declined 0.02 per cent to Rs234.20 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On MCX, aluminium for delivery in May fell 5 paise or 0.02 per cent to Rs234.20 per kg in 3,908 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.